Alade market gives way for N6.9 billion shopping mall

Folashade Tinubu-Ojo

The popular Alade Market in Ikeja has finally given way for the development of N6.9 billion shopping mall as the demolition of the old market began on Wednesday.

The market has been condoned off as the demolition exercise continued on Thursday while the former traders of old market had been relocated to a new Alade Market.

Traders in the old market have fully relocated to the new market as economic activities now boom in the new market.

The Iyaloja General of Nigeria, Mrs. Folashade Tinubu-Ojo, who visited the new Alade Market on Thursday, lauded the government and the market concessionaire for the N6.9 billion redevelopment plan of the market.

Tinubu-Ojo who spoke shortly after an inspection tour of the new market congratulated the traders, the Ikeja Local Government and the Master Reality International Concept Limited (the concessionaire of the market) for the feat.

She said that it would be the first time a new market was made available before an old one was pulled down, even as she said the relocation of the market was in the interest of all.

According to her, traders in Alade Market “are lucky because they are the first set that will be provided with alternative before the commencement of the redevelopment. In previous cases, the redevelopment would have started before provision is made for the occupants.

“Also, my late grandmother demanded that the relocation is completed before the demolition of the existing structure. The cost of the shop to the original allottees is N150, 000. But for fresh traders, the price would differ. The price for the original allottees was for the purchase of the shop.”

The Iyaloja General enjoined few traders who were still bitter about the development to join hands with the government, the concessionaire and the traders to take the market to a new height.

Tinubu-Ojo said in order to ensure fairness, the traders had been told that they have opportunity to apply after the redevelopment of the market was completed, adding that anyone interested in becoming a traders in the New Alade market had to purchase allocation form.

“There is no issue in the redevelopment except for few traders who paraded themselves as concerns traders that were fomenting trouble in the market. But, I have instructed their Iyaloja, Mrs. Adenuga to accept them whenever they decide to return to the new market.

“I approved the redevelopment. All over the world, there are redevelopments. And those standing against the redevelopment often travel,” she said.